JLL arranges loan for new Houston-area retail center
336 Marketplace is a Kroger-anchored center in Conroe, Texas
HOUSTON, February 11, 2020 – JLL Capital Markets announced today that it has arranged financing for 336 Marketplace, a recently constructed, 471,752-square-foot, grocery-anchored retail power center in the Houston-area community of Conroe, Texas.
JLL worked on behalf of the borrower, Fidelis Realty Partners, to place the 10-year, fixed-rate, non-recourse loan with The Guardian Life Insurance Company of America.
336 Marketplace is situated on 72 acres at the southwest corner of Interstate 45 and South Loop 336 in Conroe, the fastest-growing city (among cities with more than 50,000 residents) in Montgomery County. The center’s location within the Grand Central Park masterplan occupies the former Camp Strake site and has more than 36,000 residents earning an average annual household income of nearly $80,000 within a three-mile radius. Substantially completed in 2019, 336 Marketplace is home to a variety of tenants, including anchors Kroger, Michaels, Dick’s Sporting Goods, Marshalls, Five Below, Ross Dress for Less, HomeGoods, Ulta Beauty, DSW and Burlington.
The JLL Capital Markets debt placement team was led by Senior Managing Director Colby Mueck and Analysts Molly Leinsdorf and Tolu Akindele.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fidelis Realty Partners
Fidelis Realty Partners was formed in 2003 to own, develop and manage mid- to large-scale Class A shopping centers, typically anchored by leading grocers and national retailers. The scale of these anchor merchants provides smaller retailers with maximum market exposure, frequent and repetitive foot traffic, and the kind of drawing power that only well-known, brand-name retailers can create. Fidelis also owns and manages a variety of local neighborhood centers that are convenient and crucial to the communities they serve. The company recognizes the importance of a diverse merchant mix, as well as the quantity and quality of shoppers needed for business success in any given area. Fidelis strives to create the kind of synergy that all centers need to be successful.